Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Korea added to key bond index
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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Korea launches antidumping probe into Chinese steel
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Open Corp. hires celebrity sommelier in premium push
Korean restaurant chain operator Open Corp. said Friday it has recruited a seasoned sommelier as its new executive director to provide premium F&B services. With Kim Hyup taking office, the firm plans to foster some 300 sommeliers through internal employee training. "The company's goal in 2023 is to provide better service to many customers who enjoy gourmet culture. As a result, we will be reborn as a dining company that delivers satisfaction to customers through the largest sommel
March 5, 2023
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[Photo News] Promoting Busan's Expo bid in Europe
SK Group Chairman Chey Tae-won (left), who doubles as chairman of the Korea Chamber of Commerce and Industry, talks with Denmark Prime Minister Mette Frederiksen at her office in Copenhagen, Friday, as he delivers President Yoon Suk Yeol’s personal letter asking for the European country’s support for Busan’s bid to host the 2030 World Expo. Chey has wrapped up his weeklong trip to Spain, Portugal and Denmark as a presidential special envoy.
March 5, 2023
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Samsung’s global DRAM market share inched up; revenue plummeted in Q4
As global chipmakers struggle with a severe market downturn, Samsung Electronics managed to maintain its market share while seeing a sharp loss in revenue, data showed on Thursday. According to market tracker TrendForce, global DRAM revenue fell by 32.5 percent in the fourth quarter of 2022, when compared to the previous quarter, showing a decline similar to the 36 percent of the final quarter of the 2008 -- when the world was hit by a major financial crisis. The top three DRAM suppliers, Samsun
March 3, 2023
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KT, Intel join hands to launch world's first Wi-Fi 7
South Korean telecommunications giant KT said Thursday it is joining hands with Intel to introduce Wi-Fi 7 technology as the first network service operator. KT and Intel signed an agreement on Tuesday to work together to develop and promote Wi-Fi 7 technology, next-generation Wi-Fi standard, on the sidelines of this year’s Mobile World Congress in Barcelona, Spain, the Korean telecommunications giant said. Wi-Fi 7 would pack more data into each transmission and raise the speed significantl
March 3, 2023
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Amorepacific pivots away from China
South Korean cosmetics giant Amorepacific is reconstructing its brand image in a bid to wean its sales off a dependence on China and ramp up its sales in North America and Europe. According to Amorepacific, the company on Wednesday released First Care Activating Serum VI, the six edition of Sulwhasoo's flagship serum. Sulwhasoo is Amorepacific's luxury skincare subsidiary brand that accounts for some 40 percent of the Korean beauty giant's total annual cosmetics sales. The company
March 2, 2023
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[Photo News] Smart cottage
LG Electronics introduces a new residential concept of its Smart Cottage, a small modular house equipped with LG's advanced energy and air conditioning technology and filled with differentiated premium home appliances. The smart cottage prototype unveiled has a two-story one-room structure. The living room and kitchen are in one space, and the toilet and powder room are separate.
March 2, 2023
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SK Ecoplant's subsidiary sets up 4th plant in US
SK Ecoplant announced Wednesday that it has completed construction of its e-waste and waste battery recycling base in Las Vegas, through its overseas subsidiary TES. The 3,700-square-meter IT asset disposition plant in Las Vegas is TES' fourth US base, following others in Seattle, Atlanta and Fredericksburg, Virginia. IT asset disposition mainly refers to the complete destruction of information stored in IT assets, ranging from smartphones to data center equipment. TES is developing ITAD as
March 2, 2023
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Internet-only K-Bank reaps record profits
K-Bank, a South Korean internet-only bank, posted record-high profits last year, extending gains after it swung to black for the first time in 2021. The bank recorded a net profit of 83.6 billion won ($63.7 million) in 2022, marking a 272 percent increase from the previous year's net profit of 22.5 billion won, according to K-Bank on Thursday. K-Bank’s net profit in 2021 was a turnaround from a loss of 105.4 billion won in 2020. It was the first annual net profit that the internet-o
March 2, 2023
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Booyoung donates 200 buses to Phnom Penh
South Korean construction giant Booyoung Group said Wednesday it has donated a total of 200 buses to the Cambodian capital of Phnom Penh as part of its ongoing social contribution activities in the Southeast Asian country. Booyoung Group founder and Chairman Lee Joong-keun and Phnom Penh Municipal Gov. Khuong Sreng attended the delivery ceremony held Tuesday (local time), with dozens of city and company officials and Korean residents there present. The latest donation, worth $8.83 million, aims
March 1, 2023
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SK Square CEO upbeat about partnership with EQT to nurture global security firm
SK Square Vice Chairman and CEO Park Jung-ho on Tuesday showed high expectations about joint management with Sweden’s EQT Infrastructure to nurture SK Shieldus into a global security firm. In a press conference held on the sidelines of this year's Mobile World Congress in Barcelona, Spain, Park -- who also doubles as SK hynix CEO -- revealed that EQT Infrastructure will purchase a total 68 percent stake to become the top shareholder of the Korean Security firm. EQT Infrastructure is a
March 1, 2023
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Samsung Electronics top stock pick in Feb.; SM ranks No. 4
Market bellwether Samsung Electronics was the top stock pick among investors in February, with the total trade volume of its stocks soaring to 16.17 trillion won ($12.3 billion) on the nation’s main bourse Kospi, according to data from the Korea Exchange on Wednesday. The tech giant’s daily trade volume was 808.9 billion won on average last month. Posco Chemical, a battery materials company that has recently inked a whopping 40 trillion won supply deal with Samsung SDI, had the sec
March 1, 2023
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SKT to expand global presence ifland metaverse platform
South Korean telecommunication giant SK Telecom is launching its metaverse platform ifland in the United States, Europe and Southeast Asia, in cooperation with a number of global telcos, the company said Wednesday. SKT said it inked separate agreements with Germany’s Deutsche Telekom, US’ T-Mobile, Axiata, which operates in 11 countries in Southeast Asia, and Malaysia’s CelcomDigi on expanding the ifland service, on the sidelines of this year’s Mobile World Congress. &ldq
March 1, 2023
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[Graphic News] S. Korea’s fisheries output down 6% in 2022
South Korea’s fisheries output moved down 6 percent from a year earlier in 2022, data showed, primarily due to a fall in the production of anchovies, hairtail and squid. Total fisheries output amounted to 3.6 million tons last year, down from 3.83 million tons tallied in 2021, according to Statistics Korea. The statistics agency attributed the overall decrease to the fall in output from the aquaculture, littoral and deep-sea fishing sectors. The number of boats in the deep-sea fishing indu
March 1, 2023
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Schenker Korea CEO reelected as ECCK chairman
The European Chamber of Commerce in Korea announced Tuesday that Dirk Lukat, CEO of Schenker Korea, has been reelected as the chamber’s chairperson at the annual general meeting on Monday. The ECCK is an organization representing over 400 European companies operating in Korea. Board elections for the 2023-2025 mandate were also held on the same day. Per Stenius, chairman and CEO of Reddal, Lee Ga-young; managing director of Knoell Korea; Erik Roelans, CEO of ER-Marine Erik Roelans; co-CEO
Feb. 28, 2023
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Tensions heat up over SM acquisition
Hybe, the Korean entertainment agency behind BTS, announced on Tuesday that it has submitted a petition to the Financial Supervisory Service asking for an investigation into a "suspicious" large purchase deal of SM Entertainment stocks. The request comes amid Hybe’s bid to take over its rival agency after becoming its largest shareholder. “On Feb. 16, an abnormal purchase of 2.9 percent (683,398 shares) of SM's issued shares took place at IBK Investment Securitie
Feb. 28, 2023
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SeAH Group remains mum over SpaceX supply deal
SeAH Group, a South Korean steelmaker, could become the first South Korean company to sign a delivery contract with SpaceX as the conglomerate is in talks with the US spacecraft manufacturer to supply materials for rockets and satellites, according to local reports Monday. Citing anonymous industry sources, the reports said SeAH Changwon Integrated Special Steel (SeAH CSS) -- the group’s unit that specializes in producing special steel alloys for aerospace parts -- is carrying out negoti
Feb. 27, 2023
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Hyundai E&C's Hillstate DMC boasts convenient location
South Korean builder Hyundai Engineering & Construction said Monday that the builder's new rental apartment complex Hillstate DMC Station boasts a convenient location as it is located near the DMC Subway Station and other landmark facilities in the neighborhood. Hillstate DMC Station will consist of two 36-story apartment buildings housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul. Adding up to its proximity to a subway station, which is considered a key m
Feb. 27, 2023
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Swedish EQT Partners to acquire SK security affiliate for W3tr
EQT Partners, a private equity fund operated by Sweden’s largest conglomerate, the Wallenberg Group, is expected to acquire SK Shieldus, a South Korean security firm, for about 3 trillion won ($2.27 billion) sources said Monday. EQT Partners is expected to sign the deal this week to purchase a 30 percent stake in SK Shieldus from the top shareholder SK Square, which holds a 63.13 percent stake. SK Square is the investment arm of South Korea’s No. 2 conglomerate SK Group. The Swedis
Feb. 27, 2023
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Posco to build electric furnace in Gwangyang
South Korea’s leading steelmaker Posco said on Monday that the company will build an electric furnace at the company’s manufacturing facility in Gwangyang, South Jeolla Province, as part of the company’s low-carbon production transition. Posco said a total of 600 billion won ($463.3 million) will be invested to build the electric furnace, which will have an annual production capacity of 2.5 million metric tons. Construction of the electric furnace will start in January next yea
Feb. 27, 2023
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[Photo News] Supporting Busan Expo
Samsung Electronics said Monday it is holding promotional activities for Busan’s bid to host the 2030 World Expo in Barcelona during the Mobile World Congress 2023 that kicks off this week. Promotional banners and videos will be set up at the company’s exhibition booth and other key areas across the city.
Feb. 27, 2023